House Suspends, Extends Debt Ceiling; Treasuries Unchanged

By Michael Aneiro

The sound of can-kicking once again rang through the halls of Congress Tuesday, as the House voted to suspend the debt ceiling for three months, averting a likely debacle in a month or so when the country was expected to hit its debt limit but setting up another one three months further down the road. The bill now moves on to the Senate, which is putting on its best can-kicking shoes as we speak.

Treasuries, which have seen this movie before, yawned and went back to sleep for another three months. The 10-year note is up 1/32 on the day to yield 1.829%, while the 30-year bond is unchanged to yield 3.021%, per Tradeweb data.